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ZEZHOU TANG · 汤赜州

Led by curiosity.Grounded in research.

I’m Zezhou, an investment researcher and builder. I explore businesses, emerging technology, and the tools that help us understand them.

A little about me
INVESTING, TECHNOLOGY & EVERYTHING IN BETWEENPERSONAL NOTES / 01
01A LITTLE CONTEXT

A researcher’s mind.
A builder’s instinct.

My path has taken me from engineering in Beijing to business school in London, and from private-market investing to public-equity research. The thread running through it is an interest in how things work: a business, a technology, or a market.

Today I focus on global technology and consumer businesses at Runzhou Investment. My work combines company research, industry conversations, financial modelling, and the patient tracking of what changes over time.

I also build Alphaholic, a research workspace shaped by the work I do every day. It brings sources, company information, notes, and AI tools into a more connected research process.

WHAT I WORK ON
Global equitiesAI & semiconductorsConsumer businessesResearch infrastructure
Portrait of Zezhou Tang
Zezhou Tang / 汤赜州↗
02EXPERIENCE

A path through
markets & technology.

Public equities, private investments, and strategy — with a growing focus on the infrastructure behind good research.

Jun 2025 — PresentRunzhou InvestmentEquity AnalystShanghai

Global technology and consumer research; AI tools and research infrastructure.

  • Research AI and emerging technologies across products, industry structure, and the semiconductor value chain. Combine company analysis with industry research and expert conversations.
  • Cover consumer businesses across food and beverages, spirits, collectible toys, and sports and outdoor brands. Build recurring tracking around company disclosures, third-party data, and channel research.
  • Lead the development of internal data and AI workflows, connecting market data, research sources, company disclosures, and reusable tools to the team’s day-to-day work.
Feb — May 2025DASH ManagementInvestment AnalystBeijing

Global AI and technology investing, alongside technology fund research.

  • Researched the US AI value chain, from semiconductors and hardware to energy infrastructure and applications. Developed company theses through earnings, competition, supply-chain checks, and catalysts.
  • Supported the CIO’s investment process and separately maintained a market-neutral paper portfolio to test research ideas.
  • Conducted due diligence and ongoing monitoring of global technology-focused private-equity, venture-capital, and hedge funds.
Apr 2024 — Feb 2025NomuraEquity Research Analyst · Asset ManagementShanghai

Company research, financial modelling, and China equity market analysis.

  • Maintained ongoing research on portfolio companies and the watchlist, integrating disclosures, industry data, and management and sell-side conversations.
  • Built initiation reports and three-statement and comparable-company models, with a focus on consumer businesses and selected energy companies.
  • Prepared regular China equity market reports for colleagues in Tokyo and Hong Kong, and worked with product and sales teams on investment structures for offshore clients.
Nov 2023 — Mar 2024JD.comInvestment Intern · Group Strategy & InvestmentBeijing

Technology and AI investment screening, due diligence, and transaction analysis.

  • Mapped potential technology and AI acquisition targets and assessed their fit with the group’s strategy.
  • Supported commercial, financial, and legal due diligence, investment committee materials, and valuation work for an investment in robotics.
  • Contributed industry and counterparty research to real-estate-related transaction work.
Aug — Oct 2023Roland BergerSummer Intern · Strategy ConsultingShanghai

Automotive sales strategy and coffee retail growth strategy.

  • Analysed sales data and participated in executive and dealer interviews to support an automotive sales strategy.
  • Supported a coffee retailer’s growth strategy through market research, financial modelling, and unit economics.
  • Joined after winning the Greater China case competition; received a full-time offer following the internship.
Jan — Jul 2023Source Code CapitalInvestment Intern · Global TechnologyLondon

Cross-border technology investing and early research on generative AI.

  • Followed European and North American private markets and the development of generative AI during its early commercial expansion.
  • Supported cross-border mobility investments through business and financial due diligence, market sizing, valuation, and three-statement modelling.
  • Participated in international company and investor research, including a research trip to the United States.
EDUCATION
2024

London Business School

Masters in Analytics and Management

London, United Kingdom
2022

Beijing University of Posts and Telecommunications

Bachelor’s degree · e-Commerce Engineering

Beijing, China
ALONG THE WAY

Bringing people and ideas together.

At the 12th London Business School China Business Forum, I helped organise the Technology & Investment panels — from topics and speaker coordination to the event itself. Earlier, I founded a business community at BUPT and co-created a WeChat publication.

03SELECTED PROJECTS

From questions
to things that work.

Tools and experiments shaped by practical problems in research, investing, and learning.

RESEARCH WORKSPACE · ONGOING

Alphaholic

A home for the investment research process. Sources, company context, working notes, and AI assistance — connected around the work of forming and revisiting a view.

Product & engineeringInvestment researchAI workflows
Explore the project
MACHINE LEARNING · 2022

Looking beyond linear models.

An undergraduate research project exploring nonlinear asset pricing in Chinese equities, including a hybrid CNN, LSTM, and attention model.

PythonAsset pricingApplied research
Explore the project
LANGUAGE & LEARNING · 2021

Finding the right next read.

Research into estimating the difficulty of English novels, using linguistic features to improve a familiar readability formula.

NLPFeature engineeringEducation
Explore the project
04RESEARCH & PUBLICATIONS

A few questions
I’ve worked through.

Earlier academic work on machine learning, financial markets, and language. Each entry includes an accessible overview and its research context.

2022
UNDERGRADUATE THESIS

Research and Implementation of Capital Asset Pricing Method Based on Machine Learning

Zezhou Tang · Beijing University of Posts and Telecommunications

↗2021
CONFERENCE PAPER · ACCEPTED

An optimization of feature construction strategy for difficulty calculation algorithm of English novels

K. Jiang, Z. Tang et al. · CSTNED 2021

↗
05BEYOND THE DESK

There’s more
outside the spreadsheet.

Music, a camera, a mountain, a court. Some interests have been with me for years; others keep giving me a reason to learn.

Music

Piano, guitar, and drums. I completed Grade 10 piano and write original songs on guitar.

Playing & making

Photography

An ongoing interest that has also become client work, including portrait photography.

Seeing a little closer

Snowboarding

A reason to get out of the city and spend time in the mountains.

Away from the screen

Tennis & pickleball

Time on court, learning a different kind of timing.

Always a work in progress
06SAY HELLO

Good conversations
start somewhere.

Research, technology, something you’re building — or a shared interest. I’d be glad to hear from you.